RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Lagoda Investment Management L.P.

Lagoda Investment Management L.P. cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the insurance provider's stock after selling 1,455 shares during the period. RenaissanceRe makes up 3.4% of Lagoda Investment Management L.P.'s portfolio, making the stock its 11th largest holding. Lagoda Investment Management L.P.'s holdings in RenaissanceRe were worth $6,220,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RNR. Focus Partners Wealth purchased a new stake in shares of RenaissanceRe in the fourth quarter worth approximately $378,000. Ensign Peak Advisors Inc increased its stake in RenaissanceRe by 4.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 16,619 shares of the insurance provider's stock worth $4,135,000 after purchasing an additional 657 shares during the period. Ethic Inc. lifted its position in shares of RenaissanceRe by 23.9% during the fourth quarter. Ethic Inc. now owns 4,104 shares of the insurance provider's stock worth $1,021,000 after purchasing an additional 791 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of RenaissanceRe by 4.2% during the fourth quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock valued at $2,666,000 after purchasing an additional 431 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of RenaissanceRe by 7.2% in the fourth quarter. Cetera Investment Advisers now owns 4,249 shares of the insurance provider's stock worth $1,057,000 after purchasing an additional 285 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RNR has been the topic of several research analyst reports. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Bank of America lowered their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group reduced their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $282.60.

RenaissanceRe Stock Up 1.4%

RenaissanceRe stock traded up $3.33 during midday trading on Thursday, reaching $242.88. The company's stock had a trading volume of 519,067 shares, compared to its average volume of 427,632. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $11.82 billion, a P/E ratio of 6.94, a PEG ratio of 2.09 and a beta of 0.34. The stock's 50-day simple moving average is $239.89 and its 200-day simple moving average is $249.47. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $12.18 EPS. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's payout ratio is 5.10%.

Insider Buying and Selling

In other news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the sale, the chief accounting officer now owns 27,154 shares in the company, valued at $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.